US Drop-In: July CPI and the Fed policy outlook

We think the Fed’s done with raising rates and won’t hike again at its September meeting – but much will depend on the next couple of inflation reports, including July’s.

Chief US Economist Paul Ashworth and Deputy Chief US Economist Andrew Hunter held a briefing shortly after the release of the July CPI report all about the US inflation and policy outlook.

During this 20-minute briefing, Paul and Andrew addressed key issues including: 

• What the latest CPI data say about the US headline and core inflation outlooks;
• US economic resilience and the recession question;
• Why the Fed won’t hike again this cycle – and when it could start to cut.